Bungie’s management is not blaming Sony for the company's layoffs. Some employees were told that if the Sony buyout did not happen....

[Zzero]

Anyone knows what this means exactly? Sony got back most of the 1.2 billions? That sounds good.

The money was used to buy Bungie shares from Bungie employees. So they got, you know, "something" from it and really it wasn't for employee retention at all.

Edit: I think its foolish to want leadership scalps after every failed project too. The leadership team who brought you the Wii U, nearly to a man, brought you the Switch. The PSU wonder team of 2005 was coached by the same staff that brought us the dark years of 2000 through 2004. Before being a great mayor, Eric Papenfuse was a pretty terrible high school latin teacher.

 

[anonpuffs]

The money was used to buy Bungie shares from Bungie employees. So they got, you know, "something" from it and really it wasn't for employee retention at all.

No. If your shares weren't vested yet you get nothing. What's unclear is if Sony still has to pay the retention bonus to Bungie, my guess is no.

 

[Zzero]

No. If your shares weren't vested yet you get nothing. What's unclear is if Sony still has to pay the retention bonus to Bungie, my guess is no.

Thats not what we are talking about. Sony put 1.2 billion dollars into "employee retention" when they brought Bungie, but really they used it long ago to buy back employees' Bungie stock. Hence that money cannot be used now to actually retain employees.

 

[Vertigo]

One game funding the development of 3 is unrealistic, especially considering how expensive destiny is to make content for to begin with, and needs a ton of funding and why they sought to be purchased in the first place. They should’ve been more modest in their spending in hindsight; like not take gummy bears into full development, or increase hiring as much as they did once the PlayStation money came in. The new HQ is whatever, clearly planned way before any of that…

 

[Gods&Monsters]

Thats not what we are talking about. Sony put 1.2 billion dollars into "employee retention" when they brought Bungie, but really they used it long ago employees' Bungie stock. Hence that money cannot be used now to actually retain employees since its long gone.

But who got the money. Sorry I still don't understand that part

 

[Zzero]

But who got the money. Sorry I still don't understand that part

The employees who also owned Bungie stock. Sony purchased their shares and thus they "lost shares" but gained money while Sony "lost money" but gained shares.

 

[Loy310]

Very uncharacteristic for sony, they are not a company saving type company, they usually leave you alone if you are in the orbit of going out of business.

Bungie got lucky.

 

[historia]

Bungie scammed Sony?

 

[Darth Vader]

So uncle Jim threw over 3 billion to the bin? Nice job acquiring a non profitable mess. Best CEO ever.

 

[anonpuffs]

The employees who also owned Bungie stock. Sony purchased their shares and thus they "lost shares" but gained money while Sony "lost money" but gained shares.

That's an idiotic take. There is no "employee retention bonus" if it was paid out in the beginning. Sony would have attached conditionals to increase the $/share based on employee retention metrics over time.

 

[Gamernyc78]

Watch Bungie come out with a super banger bcus of all this talk and pressure!

 

[Zzero]

That's an idiotic take. There is no "employee retention bonus" if it was paid out in the beginning. Sony would have attached conditionals to increase the $/share based on employee retention metrics over time.

Take it up with the article's writer, I am just summarizing the summary.

 

[Zzero]

Fwiw, I am finally reading the article myself and there was at least one update to the bullet points listed above. Management bonuses were not impacted by this, but only because they lost all of them months prior. Not exactly the same as blanket "executive compensation" but a start, I suppose.

 

[KiryuRealty]

Watch Bungie come out with a super banger bcus of all this talk and pressure!

Nah. Fuck ‘em for stealing the name of their best series of games ever and slapping it on a fucking online extraction piece of shit.

A real Marathon revival would be a killer app. The In-Name-Only Marathon will not be anything worthy of the stolen title. Than again, almost everyone responsible for Marathon bailed as soon as they got their completion bonuses for Halo, so it might not have lived up to the original anyway.

 

[Vertigo]

Fwiw, I am finally reading the article myself and there was at least one update to the bullet points listed above. Management bonuses were not impacted by this, but only because they lost all of them months prior. Not exactly the same as blanket "executive compensation" but a start, I suppose.

Tassi included that later. Too late of course because Twitter tards run with narratives. I ignore most unionization chatter because don’t give a shit. Bungie purged most of their woke community staff and other useless do nothing bullshit with this layoff. So much for all their pandering bullshit. I’m all for the gut when it comes to tightening the purse. Only Salvatori and schest were major losses in talent.

Also, blaming Parsons while thinking Destiny director Joe Blackburn isn’t to blame is nonsense. Parsons is trying to keep his company running, Blackburn OWNs this year’s fall in player engagement.